Potlatch Corporation $PCH Shares Sold by Invesco Ltd.

Key Points

• Invesco Ltd. has reduced its stake in Potlatch Corporation by 10.4%, now holding 202,223 shares valued at approximately $9.1 million.
• Despite Invesco's reduction, other hedge funds like Westwood Holdings and Deprince Race & Zollo have increased their investments in Potlatch, signaling mixed sentiments among institutional investors.
• Potlatch Corporation reported a quarterly earnings per share (EPS) of $0.09, surpassing analyst expectations, although its revenue fell by 14.2% year-over-year.

Invesco Ltd. lowered its position in Potlatch Corporation (NASDAQ:PCH - Free Report) by 10.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 202,223 shares of the real estate investment trust's stock after selling 23,364 shares during the quarter. Invesco Ltd. owned about 0.26% of Potlatch worth $9,124,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Quarry LP grew its holdings in shares of Potlatch by 224.2% in the fourth quarter. Quarry LP now owns 697 shares of the real estate investment trust's stock valued at $27,000 after purchasing an additional 482 shares during the period. Harbor Capital Advisors Inc. grew its holdings in shares of Potlatch by 168.1% in the first quarter. Harbor Capital Advisors Inc. now owns 665 shares of the real estate investment trust's stock valued at $30,000 after purchasing an additional 417 shares during the period. Costello Asset Management INC purchased a new stake in shares of Potlatch in the first quarter valued at about $30,000. UMB Bank n.a. grew its holdings in shares of Potlatch by 41.6% in the first quarter. UMB Bank n.a. now owns 864 shares of the real estate investment trust's stock valued at $39,000 after purchasing an additional 254 shares during the period. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of Potlatch in the first quarter valued at about $52,000. Hedge funds and other institutional investors own 86.06% of the company's stock.

Potlatch Stock Performance

Shares of Potlatch stock traded up $0.02 during trading on Friday, reaching $41.72. The company's stock had a trading volume of 239,970 shares, compared to its average volume of 522,564. The company has a 50-day moving average price of $41.27 and a two-hundred day moving average price of $41.41. The firm has a market cap of $3.22 billion, a PE ratio of 78.71 and a beta of 1.12. Potlatch Corporation has a fifty-two week low of $36.82 and a fifty-two week high of $48.12. The company has a current ratio of 1.13, a quick ratio of 0.75 and a debt-to-equity ratio of 0.47.

Potlatch (NASDAQ:PCH - Get Free Report) last announced its earnings results on Monday, July 28th. The real estate investment trust reported $0.09 EPS for the quarter, beating analysts' consensus estimates of $0.07 by $0.02. Potlatch had a net margin of 3.94% and a return on equity of 2.10%. The business had revenue of $274.99 million for the quarter, compared to analysts' expectations of $267.66 million. During the same period in the previous year, the company posted $0.17 EPS. The company's quarterly revenue was down 14.2% on a year-over-year basis. On average, analysts forecast that Potlatch Corporation will post 0.8 EPS for the current year.

Potlatch Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Monday, September 15th. Potlatch's payout ratio is presently 339.62%.

Analyst Ratings Changes

Several brokerages have weighed in on PCH. Truist Financial raised shares of Potlatch from a "hold" rating to a "buy" rating and increased their target price for the stock from $44.00 to $52.00 in a research note on Wednesday, July 16th. Wall Street Zen lowered shares of Potlatch from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Finally, Citigroup reaffirmed a "buy" rating and set a $47.00 target price (down previously from $49.00) on shares of Potlatch in a research note on Tuesday, June 3rd. Seven investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Potlatch has a consensus rating of "Buy" and a consensus price target of $50.00.

About Potlatch

PotlatchDeltic Corporation Nasdaq: PCH is a leading Real Estate Investment Trust (REIT) that owns nearly 2.2 million acres of timberlands in Alabama, Arkansas, Georgia, Idaho, Louisiana, Mississippi and South Carolina. Through its taxable REIT subsidiary, the company also operates six sawmills, an industrial-grade plywood mill, a residential and commercial real estate development business and a rural timberland sales program.